Reed awaits Obama's budget plan

U.S. Rep. Tom Reed, R-Corning, is awaiting President Obama’s 2015 federal budget proposal, expected to be sent to Congress today.

“We’ll read it, review it, look at what it says about Obama’s agenda in an election year,” Reed said during his weekly teleconference with reporters in the 23rd District.

Spending levels are already set for the 2015 fiscal year – which begins Oct. 1 – due to a two-year deal negotiated by Senate Budget Committee Chairwoman Patty Murray and House Budget Committee Chairman Paul Ryan in the wake of the government shutdown last fall.

However, Obama’s plan will outline how he wants to allot funding for the military and a wide range of domestic programs.

Ryan is expected to hold a hearing on Obama’s proposals Wednesday, and House Republicans will likely eventually pass their own budget plan, Reed said.

Senate Democrats will not, he added.

Obama’s budget plan includes proposals to crack down on “tax avoidance schemes” by U.S. corporations doing business overseas or foreign companies who operate in the U.S., according to the Associated Press.

Reed continued to tout a separate proposal for more comprehensive tax reform introduced last week by Rep. Dave Camp, R-Mich., who chairs the House Ways and Means Committee.

“It boils down a 70,000-page tax code into something that’s simpler, more fair, and encourages growth,” said Reed, who also serves on the Ways and Means Committee.

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